Menu
short term capital loss
I have short term capital loss on trading share business and long term capital term capital giains which is exempt u/s.10(38). whether the income tax act permit me to set off the Short term capital loss against the long term capital gains on sale of equity shares which is exempt u/s.10(38)?
Replies (3)
In normal cases short term capital loss can be set off against long term capital gain.
But here LTCG is exempt under section 10(38) so u cannot set off STC loss against this because there is no taxable LTCG.
sir can you please provide me with a case law
no case laws required.... losses can be set off only aGainst taxable income and not against exempted income
Recent Topics :
- Last day for ITR-U for AY 2023-2024 (FY 2022-2023)
- Sale of shares in indian company by a non resident
- Difference in TIS
- GSTR-9C Upload Status Error Occured
- “Income Tax Implications of Company-Related
- Advice needed: Hypothetical case of non-filing of
- Demand Raised for Cess Amount Despite Section 89 R
- WRONG BILL NO FILED IN GST R1
- Addtional trade name for my another firm
- Commission / Agency Business without books: REAL E
Related Topics :
CAclubindia
